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Calculate is the taxable value for fbt purposes

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William is James' employer. William paid the following payments on behalf of James.

Item                      Payment by William                Tax deduction had James paid

                                                    $                                            $

Computer part                     300                                     300

University fees                       450                                   200

HELP charges                             850                                 Nil

Taxi fares                                   300                             100

Required:

Question 1: Calculate is the taxable value for FBT purposes of the following payments. You must refer to relevant legislation and/or case law in your answer.

 

Reference no: EM132600812

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